Commentary and analysis to persuade people to become socialist and to act for themselves, organizing democratically and without leaders, to bring about a world of common ownership and free access. We are solely concerned with building a movement of socialists for socialism. We are not reformists with a programme of policies to patch up capitalism.

Thursday, September 29, 2016

Wage Drop in South Africa

South African workers took home much smaller disposable
salaries in August 2016 than they did in August 2015, as inflation accelerated
but growth in wages slowed.

The BankservAfrica disposable salary index, released on
Wednesday, shows employees took home 2.5% less in August than a year earlier —
the third consecutive month of declines in real disposable salaries. "For
the first eight months, real take-home salaries declined by 0.4%," it
said.

"While workers received salary increases in nominal
terms, the real value for these ended up being lower due to the higher rate of
inflation," BankservAfrica head of knowledge and risk services Caroline
Belrose said.